Tesla (TSLA) CEO Elon Musk reportedly ordered Nvidia (NVDA) to ship out and divert AI chips originally meant for Tesla to X and Musk's xAI startup, according to emails obtained by CNBC. The Morning Brief team reports on this. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.
Tesla vehicle insurance registrations in China last week jumped sequentially and increased vs. a year earlier, as China EV registrations broadly picked up steam at the end of May. TSLA shares angled slightly higher early Tuesday. Tesla insurance registrations in China totaled 15,200 for the week of May 27-June 2, up 16% from 13,100 the previous week, according to data reported by CnEVPost Tuesday. Vehicle registrations in China tend to pick up toward the end of the month, according to local reports.